Actually, there are a thousand things you need to know about this budget crisis, but let’s do three, real quick:
1. We haven’t even sold the "infrustructure" bonds passed last November, and now we really can’t due to our budget situation. This is why the Lincoln Club of Fresno County opposed the bonds in the first place. Most journalist don’t know what a bond is, so this isn’t being mentioned in budget crisis coverage.
2. Working on a "health care deal" during this crisis isn’t even stupid – its just plain political malpractice. The resulting ballot initiative in November, 2008, aimed at raising our taxes, will be a defining issue for the GOP and actually give the State GOP something to do this year. Yes!
3. Assembly Leader Mike Villines yesterday to me: "tax increases are dead on arrival in the State Assembly, there isn’t a revenue problem." The Governor better get his meat cleaver out. Villines told me yesterday that even termed out Republicans won’t support new taxes.
Even the most elemental analysis of the state budget over the past several years contained predictions of the current budget crunch. Here we are five years later with an eerie sequel to the Gray Davis debacle. Man do I miss Pete Wilson…………..